Oshkosh Corp. announced solid fiscal first-quarter results as good performance in the defense segment drove an 83% year-over-year revenue increase and the company repaid about $180 million of debt in the quarter. We are affirming the ratings on the company, including the 'B+' corporate credit rating. We are revising the outlook on the specialty vehicle manufacturer to positive from stable. The positive outlook reflects the potential for a higher rating if the company can maintain improved credit measures past the current year following completion of certain large defense orders. On Jan. 29, 2010, Standard&Poor's Ratings Services affirmed the ratings on Oshkosh Corp., including the 'B+' corporate credit rating. We also revised the outlook to positive from stable. The
